04:18 AM EDT, 03/25/2020 (MT Newswires) -- Canadian gold miner Agnico Eagle Mines (AEM) said Tuesday that it will start ramping down its mining operations in the Abitibi region of Quebec and in Nunavut region following discussions with government authorities amid the COVID-19 pandemic.

The company's mining operations in Quebec will be placed on care and maintenance until April 13, while all exploration activities throughout Canada will also be suspended during this period.

Meanwhile, the company's Mexican and Finnish mines will continue to operate at normal levels.

Additionally, the company said it drew down $1 billion from its $1.2 billion unsecured revolving credit line as a cautionary measure, but noted that it has no current plans to use the funds, though it may repay a portion of its $360 million 6.67% series B notes due April 2020.

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